GBP to USD: Pound Gains After Trump VictoryNovember 9, 2016 3:37 pm
The GBP to USD rate rose to a near-month high this morning after victory for Trump.
Celebrity outsider Donald Trump has won the race to the White House and is set to become the United State’s 45th president. The Pound made strong gains against the US Dollar when it became apparent Trump was winning the race; however increases came to halt after his acceptance speech was seemingly balanced and conciliatory.
So far, fears of a ‘Brexit-style’ shock have failed to materialise as stocks were recovering their positions this morning. Machinery manufacturer, Caterpillar, rose by 8%, in anticipation of Trump’s new infrastructure plan. Shares in pharmaceutical and defence companies are also up and leading the rally.
The GBP to USD exchange rate is currently sitting around 1.24 compared to the end of October when the pair was trading at around 1.215.
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Tags: donald trump president, gbp to usd
Categorised in: News
This post was written by Kayleigh Driscoll